The document summarizes industrial real estate market trends in the United States for Q4 2011. Some key points:
- US industrial vacancy is projected to drop gradually through 2012, falling below 8.9% by Q4 2012 due to continued absorption and low construction levels.
- Absorption in Q4 2011 was the highest recorded since the recovery began at 41.3 million square feet.
- Speculative construction is expected to increase in primary and select secondary markets in 2012.
The Columbus office market gained 195,000 square feet of positive absorption in Q3 2011, marking the second consecutive quarter of growth. Vacancy rates decreased slightly to 12.8% from 13.0% in the previous quarter. Notable leasing activity included JP Morgan Chase filling 72,588 square feet at 1000 Polaris Parkway. Construction continued on projects such as NetJets' 140,000-square-foot building and Water's Edge II in New Albany. The unemployment rate in Columbus remained steady at 8.2% in July.
The document summarizes commercial real estate trends in central London during the first half of 2011. It notes that strong absorption of office space led to rising occupancy rates across core locations like the West End. Competition for limited Grade A space continued to drive up prime rents, while availability fell sharply. The West End saw over 1.2 million sq ft of absorption and average rents rise 11% during H1 2011 due to limited new supply. Overall 2011 take-up is expected to be below average despite continued rental growth, as absorption peaks amid a shortage of available stock.
The office market demand is shifting away from FIRE (Finance, Insurance, and Real Estate) industries toward ICEE (Intellectual Capital, Energy, and Education) industries. This shift has benefited cities with strong ICEE industry concentrations like Houston, Calgary, Toronto, Seattle, Baltimore, Washington DC, Raleigh, Austin, and Denver which have seen increased office demand and absorption. The recovery in the overall office market remains slow as uncertainties in the economy are keeping businesses cautious about expanding and leasing offices. While the national vacancy rate improved slightly, rental rates only increased marginally and a more robust recovery is still needed.
North American Office Highlights Q1 2012Coy Davidson
The office market demand is shifting away from FIRE (Finance, Insurance, and Real Estate) industries toward ICEE (Intellectual Capital, Energy, and Education) industries. This has benefited cities with strong ICEE industry concentrations like Houston, Calgary, Toronto, Seattle, Baltimore, Washington DC, Raleigh, Austin, and Denver which have seen increased office absorption. Markets dependent on FIRE industries like Los Angeles, Atlanta, and parts of New Jersey and Chicago have seen declining demand. While the national office market recovery remains slow, select large markets with strong ICEE presences have seen more robust demand and lower vacancy rates.
Houston's office market saw strong positive absorption in Q2 2012, driven by job growth in the energy sector. Net absorption was 1.4 million SF, pushing the YTD total to 2.4 million SF. Vacancy rates decreased slightly, while average rental rates rose between quarters. Several companies announced plans for new office developments to address the reduced available inventory due to increased demand for space.
The industrial market in the Greater Columbus region saw positive absorption of 52,000 square feet in Q4 2011, led by Zulily leasing over 737,000 square feet at 3051 Creekside Parkway. There were also several significant investment sales, including KTR Capital Partners purchasing five properties totaling over 2.5 million square feet from Allianz Life Insurance Co. for $62 million. Vacancy rates remained stable at 11.9% while rental rates also remained stable compared to previous quarters. Construction activity decreased compared to previous quarters.
Colliers International: Retail Highlights Fall 2010Coy Davidson
This document provides a summary of retail market conditions in the United States in Fall 2010. It finds that after a challenging period, most shopping centers are starting to show rising occupancy and stabilizing rents as the economy expands and consumer confidence increases. However, the retail landscape still exhibits disappointing fundamentals overall. Some segments like regional malls and grocery-anchored centers are performing better, while power centers and lifestyle centers continue struggling with high vacancy rates. With little new construction, vacancy rates may modestly decline for the weaker formats.
Dover Corporation announced a realignment of its operating companies into four new business segments: Industrial Products, Engineered Systems, Fluid Management, and Electronic Technologies. This is intended to enhance future performance by grouping companies according to end markets served and identifying synergy opportunities. Dover also discontinued two businesses that will be reported as discontinued operations going forward. Historical financial data has been restated to reflect the new segment structure.
The Columbus office market gained 195,000 square feet of positive absorption in Q3 2011, marking the second consecutive quarter of growth. Vacancy rates decreased slightly to 12.8% from 13.0% in the previous quarter. Notable leasing activity included JP Morgan Chase filling 72,588 square feet at 1000 Polaris Parkway. Construction continued on projects such as NetJets' 140,000-square-foot building and Water's Edge II in New Albany. The unemployment rate in Columbus remained steady at 8.2% in July.
The document summarizes commercial real estate trends in central London during the first half of 2011. It notes that strong absorption of office space led to rising occupancy rates across core locations like the West End. Competition for limited Grade A space continued to drive up prime rents, while availability fell sharply. The West End saw over 1.2 million sq ft of absorption and average rents rise 11% during H1 2011 due to limited new supply. Overall 2011 take-up is expected to be below average despite continued rental growth, as absorption peaks amid a shortage of available stock.
The office market demand is shifting away from FIRE (Finance, Insurance, and Real Estate) industries toward ICEE (Intellectual Capital, Energy, and Education) industries. This shift has benefited cities with strong ICEE industry concentrations like Houston, Calgary, Toronto, Seattle, Baltimore, Washington DC, Raleigh, Austin, and Denver which have seen increased office demand and absorption. The recovery in the overall office market remains slow as uncertainties in the economy are keeping businesses cautious about expanding and leasing offices. While the national vacancy rate improved slightly, rental rates only increased marginally and a more robust recovery is still needed.
North American Office Highlights Q1 2012Coy Davidson
The office market demand is shifting away from FIRE (Finance, Insurance, and Real Estate) industries toward ICEE (Intellectual Capital, Energy, and Education) industries. This has benefited cities with strong ICEE industry concentrations like Houston, Calgary, Toronto, Seattle, Baltimore, Washington DC, Raleigh, Austin, and Denver which have seen increased office absorption. Markets dependent on FIRE industries like Los Angeles, Atlanta, and parts of New Jersey and Chicago have seen declining demand. While the national office market recovery remains slow, select large markets with strong ICEE presences have seen more robust demand and lower vacancy rates.
Houston's office market saw strong positive absorption in Q2 2012, driven by job growth in the energy sector. Net absorption was 1.4 million SF, pushing the YTD total to 2.4 million SF. Vacancy rates decreased slightly, while average rental rates rose between quarters. Several companies announced plans for new office developments to address the reduced available inventory due to increased demand for space.
The industrial market in the Greater Columbus region saw positive absorption of 52,000 square feet in Q4 2011, led by Zulily leasing over 737,000 square feet at 3051 Creekside Parkway. There were also several significant investment sales, including KTR Capital Partners purchasing five properties totaling over 2.5 million square feet from Allianz Life Insurance Co. for $62 million. Vacancy rates remained stable at 11.9% while rental rates also remained stable compared to previous quarters. Construction activity decreased compared to previous quarters.
Colliers International: Retail Highlights Fall 2010Coy Davidson
This document provides a summary of retail market conditions in the United States in Fall 2010. It finds that after a challenging period, most shopping centers are starting to show rising occupancy and stabilizing rents as the economy expands and consumer confidence increases. However, the retail landscape still exhibits disappointing fundamentals overall. Some segments like regional malls and grocery-anchored centers are performing better, while power centers and lifestyle centers continue struggling with high vacancy rates. With little new construction, vacancy rates may modestly decline for the weaker formats.
Dover Corporation announced a realignment of its operating companies into four new business segments: Industrial Products, Engineered Systems, Fluid Management, and Electronic Technologies. This is intended to enhance future performance by grouping companies according to end markets served and identifying synergy opportunities. Dover also discontinued two businesses that will be reported as discontinued operations going forward. Historical financial data has been restated to reflect the new segment structure.
North American Industrial Highlights 4Q 2010Coy Davidson
The U.S. industrial market finished 2010 strongly, with positive absorption in most regions and declining vacancy. Vacancy fell 0.22% in Q4 to 10.74% nationally as demand increased. Absorption was 28.6 million square feet in Q4 while new construction was only 9.4 million square feet. Rents fell slightly to $4.60 per square foot due to new supply coming online. With continued economic and manufacturing growth expected in 2011, demand for warehouse space is projected to keep rising through the year.
The retail real estate market is faring better than two years ago but still faces many challenges. While retail sales have increased over the past year, the gains have been uneven, with discount and high-end retailers thriving while mid-range retailers continue to struggle due to stagnant wages, high gas prices, and lackluster job growth. Consumer confidence, as measured by an index, remains below healthy levels, indicating consumers remain cautious in their spending. Vacancy rates remain elevated but are expected to decline in coming quarters as demand gradually increases.
The U.S. industrial market showed signs of strength in Q3 2011, with vacancies dropping in most markets and net absorption remaining high. While warehouse rents continued to decrease, demand for warehouse space is expected to remain steady due to growth in the manufacturing sector and exports. The industrial market is projected to slowly balance out supply and demand over the next few quarters without a sharp change, as construction remains low.
North American Office Highlights 4Q 2010Coy Davidson
The U.S. office market saw a sharp drop in vacancy rates and healthy increase in occupied space in Q4 2010, though rental rates remain low. Canadian office markets also saw reasonably good growth. With improving economies and job growth in both the U.S. and Canada, the office leasing market is expected to continue strengthening in 2011.
The Metro Detroit industrial market decreased its vacancy rate to 13.2% in the fourth quarter of 2011, marking the fourth consecutive quarter of vacancy decreases. Net absorption was positive at 2.86 million square feet. The average asking rental rate slightly decreased to $4.18 per square foot. With continued vacancy decreases expected in 2012, rental rates may stabilize. The market consists of 493.7 million square feet across 9,823 buildings that are home to automotive, transportation, biomedical and advanced manufacturing industries.
The industrial market in the Greater Columbus region continued to see strong leasing activity in Q1 2012, with over 1.2 million square feet of positive absorption. The vacancy rate dropped to 10.9%, the lowest since 2007. Several large leases were signed, including Innotrac taking 434,000 sq ft and Shasta Beverage taking 134,000 sq ft. Rental rates for warehouse/distribution space remained flat, while rates for R&D/Flex space increased for the third consecutive quarter. The regional industrial economy saw stable or moderately higher new orders and production among manufacturers.
This document provides a mid-year outlook for office and industrial real estate markets across Canada in 2010. Some key points:
- Canadian commercial real estate markets weathered the global recession better than markets in the US and Europe, though certain regions still face challenges.
- Central office markets like Toronto and Calgary saw high vacancy rates due to new developments completing as demand remained low. However, rental rate declines have stabilized.
- Suburban office markets tied closer to the US economy faced greater impacts, with higher expected vacancy rates than central markets.
- Industrial markets remained relatively stable, with vacancies expected to remain below 7% nationally and rental rates holding steady.
The document summarizes the office market in Metro Detroit and Washtenaw County for Q4 2011. It reports that vacancy rates remained stable at 19.5% in the Metro Detroit area. Net absorption was positive 297,451 square feet for Q4 2011, while rental rates slightly decreased to $18.15 per square foot. The market is believed to be close to bottoming out with stable vacancy levels throughout 2011 and absorption of existing space continuing as new construction remains low.
North American Office Highlights 1Q 2011Coy Davidson
The U.S. office market began 2021 on a soft note with modest growth in occupied space and little change in vacancy rates. Rents increased slightly for the first time in three years in both downtown and suburban areas. While the economic recovery is ongoing, higher energy costs may impact demand for office space. The outlook remains uncertain as employment growth has been lackluster. Canadian office markets performed better in Q1 backed by a strong economy and job market. Both U.S. and Canadian economies are expected to see gains in 2021, but rising energy prices pose a risk to business expansion and inflation.
North American Office Highlights 4Q 2011Coy Davidson
The document summarizes office market trends in North America for Q4 2011. It predicts that the US office market will see steady absorption of space in 2012, with a pickup in 2013, as domestic growth offsets a potential Eurozone recession. Vacancy rates will continue to decline between 0.5-0.7% by the end of 2012, while demand for Class A CBD space and strong markets like Houston and Silicon Valley will allow landlords to raise rents and reduce concessions. However, maturing CMBS debt will force some sales and limit price growth through 2013. Overall, private sector job growth will fuel modest absorption through 2012.
The industrial real estate market in the Greater Columbus region saw positive growth in Q3 2011, with over 1.8 million square feet of positive absorption. Vacancy rates edged up slightly but rental rates also increased slightly. Several large developments were underway or recently completed, including expansions by existing tenants, indicating an expansionary phase in the industrial market. However, concerns about a potential double dip recession persist given unemployment rate increases at the national, state and local levels.
The Detroit industrial market saw negative results in Q4 2010, with negative net absorption and increased vacancy. Rental rates slightly decreased by $0.02. A continued drop in activity is expected throughout 2011 across all submarkets for both flex and warehouse space. Property owners are focusing on retaining tenants by offering lease concessions and rate reductions. New construction and land sales are expected to remain slow until absorption improves.
C&W - MONTREAL OFFICE MARKETBEAT - Q4 2012 Guy Masse
The Montreal office market saw slowing growth in Q4 2012, with overall absorption dropping slightly to -15,000 square feet due to large blocks of vacant space returning to the market. However, vacancy rates remained steady at 7.7% overall and 6.7% direct. Suburban office markets performed better than the downtown core, with over 160,000 square feet of positive absorption offsetting increased vacancies downtown. Looking ahead, nearly 750,000 square feet of new downtown construction is expected to alleviate class A space shortages while stable rental rates and expanding suburban options will boost future leasing activity.
The Metro Detroit office market saw slight improvements in the fourth quarter of 2010. Net absorption was positive 924,996 square feet and vacancy rates decreased to 19%. Rental rates increased slightly to $18.77 per square foot. Construction remains low as the real estate market continues to recover from the economic downturn. Challenges remain for commercial property owners as high vacancies persist through 2011.
North American Office Highlights 3Q-2011Coy Davidson
The U.S. office market posted modest growth in Q3 2011 with slightly higher demand and lower vacancy. However, the much anticipated recovery has not materialized due to uncertainty in the domestic and global economies. With only modest economic growth, rents are unlikely to change significantly in the next year. Canadian markets fared better this quarter but future growth is expected to remain sluggish given uncertainty in Europe. Office vacancies will continue to gradually decline but oversupply will persist in many markets.
The U.S. office market posted modest growth in Q3 2011 with slightly higher demand and lower vacancy. However, the much anticipated recovery has not materialized due to uncertainty in the domestic and global economies. With only modest economic growth, rents are unlikely to change significantly in the next year. Canadian markets fared better this quarter but future growth is expected to remain sluggish given uncertainty in Europe. Office vacancies will continue to gradually decline but oversupply will persist in many markets.
North American Office Highlights 2Q 2010Coy Davidson
The office market in North America showed signs of stabilizing in Q2 2010. Vacancy rates rose slightly in both the US and Canada, but the increases were relatively small. Demand was mixed with the US seeing slightly positive absorption and Canada seeing more substantial growth. With economic growth in Q2 and continued labor market stabilization, office markets are expected to continue gradual improvement through mid-2011. The quarter affirmed the transition from dramatically rising vacancies and falling rents to more modest movements, with a possible reversal in coming quarters.
The US apartment market outlook remains uncertain as the economy continues to weaken. While apartment completions are expected to slow considerably in the near future, most new units under construction are concentrated in a few metros. Rent cuts have made new development deals difficult to finance, which may delay a return of new construction supply. Current apartment demand is absorbing new units but existing properties continue to lose residents. Lowering rent and standards for renters has helped occupancy rates exceed expectations so far in 2009, though revenues remain negative across property age sectors.
North American Office Highlights 2Q 2011Coy Davidson
The U.S. office market saw a modest rebound in Q2 with higher demand and slightly lower vacancy compared to Q1. However, the recovery remains subdued as rents continued to decline slightly. The Canadian office market performed better with stronger economic and job growth. While the U.S. and Canadian economies are projected to improve in the second half of 2011, forecasts made earlier in the year now appear overly optimistic given recent weak job numbers and high energy costs, which could dampen corporate expansion plans.
In 2011, M&A activity in Turkey reached a record number of deals but total disclosed deal value did not reach levels seen in previous years due to a slowdown in privatizations and an increase in small to medium sized deals. Some notable deals included the acquisition of Mey Içki by Diageo for $2.1 billion and the privatization of IDO for $861 million. The food and beverage sector saw the most deal activity. While the number of deals involving foreign investors reached a record high, total deal value by domestic and foreign investors decreased from 2010 levels. Survey respondents expected overall deal volume in 2012 to be moderate and for the energy, services, and real estate sectors to be most active.
The document summarizes research on working from home (WFH) trends and implications. It finds that WFH has increased 6-fold during the pandemic and is stabilizing at around 30% of workdays. Most employees prefer a hybrid model that allows some choice over WFH days. Managing hybrid teams well requires coordinating in-person office days to promote collaboration. Offices are not expected to significantly cut space but may redesign to add meeting rooms and lounge seating. Support services may increasingly offshore under long-term hybrid models.
North American Industrial Highlights 4Q 2010Coy Davidson
The U.S. industrial market finished 2010 strongly, with positive absorption in most regions and declining vacancy. Vacancy fell 0.22% in Q4 to 10.74% nationally as demand increased. Absorption was 28.6 million square feet in Q4 while new construction was only 9.4 million square feet. Rents fell slightly to $4.60 per square foot due to new supply coming online. With continued economic and manufacturing growth expected in 2011, demand for warehouse space is projected to keep rising through the year.
The retail real estate market is faring better than two years ago but still faces many challenges. While retail sales have increased over the past year, the gains have been uneven, with discount and high-end retailers thriving while mid-range retailers continue to struggle due to stagnant wages, high gas prices, and lackluster job growth. Consumer confidence, as measured by an index, remains below healthy levels, indicating consumers remain cautious in their spending. Vacancy rates remain elevated but are expected to decline in coming quarters as demand gradually increases.
The U.S. industrial market showed signs of strength in Q3 2011, with vacancies dropping in most markets and net absorption remaining high. While warehouse rents continued to decrease, demand for warehouse space is expected to remain steady due to growth in the manufacturing sector and exports. The industrial market is projected to slowly balance out supply and demand over the next few quarters without a sharp change, as construction remains low.
North American Office Highlights 4Q 2010Coy Davidson
The U.S. office market saw a sharp drop in vacancy rates and healthy increase in occupied space in Q4 2010, though rental rates remain low. Canadian office markets also saw reasonably good growth. With improving economies and job growth in both the U.S. and Canada, the office leasing market is expected to continue strengthening in 2011.
The Metro Detroit industrial market decreased its vacancy rate to 13.2% in the fourth quarter of 2011, marking the fourth consecutive quarter of vacancy decreases. Net absorption was positive at 2.86 million square feet. The average asking rental rate slightly decreased to $4.18 per square foot. With continued vacancy decreases expected in 2012, rental rates may stabilize. The market consists of 493.7 million square feet across 9,823 buildings that are home to automotive, transportation, biomedical and advanced manufacturing industries.
The industrial market in the Greater Columbus region continued to see strong leasing activity in Q1 2012, with over 1.2 million square feet of positive absorption. The vacancy rate dropped to 10.9%, the lowest since 2007. Several large leases were signed, including Innotrac taking 434,000 sq ft and Shasta Beverage taking 134,000 sq ft. Rental rates for warehouse/distribution space remained flat, while rates for R&D/Flex space increased for the third consecutive quarter. The regional industrial economy saw stable or moderately higher new orders and production among manufacturers.
This document provides a mid-year outlook for office and industrial real estate markets across Canada in 2010. Some key points:
- Canadian commercial real estate markets weathered the global recession better than markets in the US and Europe, though certain regions still face challenges.
- Central office markets like Toronto and Calgary saw high vacancy rates due to new developments completing as demand remained low. However, rental rate declines have stabilized.
- Suburban office markets tied closer to the US economy faced greater impacts, with higher expected vacancy rates than central markets.
- Industrial markets remained relatively stable, with vacancies expected to remain below 7% nationally and rental rates holding steady.
The document summarizes the office market in Metro Detroit and Washtenaw County for Q4 2011. It reports that vacancy rates remained stable at 19.5% in the Metro Detroit area. Net absorption was positive 297,451 square feet for Q4 2011, while rental rates slightly decreased to $18.15 per square foot. The market is believed to be close to bottoming out with stable vacancy levels throughout 2011 and absorption of existing space continuing as new construction remains low.
North American Office Highlights 1Q 2011Coy Davidson
The U.S. office market began 2021 on a soft note with modest growth in occupied space and little change in vacancy rates. Rents increased slightly for the first time in three years in both downtown and suburban areas. While the economic recovery is ongoing, higher energy costs may impact demand for office space. The outlook remains uncertain as employment growth has been lackluster. Canadian office markets performed better in Q1 backed by a strong economy and job market. Both U.S. and Canadian economies are expected to see gains in 2021, but rising energy prices pose a risk to business expansion and inflation.
North American Office Highlights 4Q 2011Coy Davidson
The document summarizes office market trends in North America for Q4 2011. It predicts that the US office market will see steady absorption of space in 2012, with a pickup in 2013, as domestic growth offsets a potential Eurozone recession. Vacancy rates will continue to decline between 0.5-0.7% by the end of 2012, while demand for Class A CBD space and strong markets like Houston and Silicon Valley will allow landlords to raise rents and reduce concessions. However, maturing CMBS debt will force some sales and limit price growth through 2013. Overall, private sector job growth will fuel modest absorption through 2012.
The industrial real estate market in the Greater Columbus region saw positive growth in Q3 2011, with over 1.8 million square feet of positive absorption. Vacancy rates edged up slightly but rental rates also increased slightly. Several large developments were underway or recently completed, including expansions by existing tenants, indicating an expansionary phase in the industrial market. However, concerns about a potential double dip recession persist given unemployment rate increases at the national, state and local levels.
The Detroit industrial market saw negative results in Q4 2010, with negative net absorption and increased vacancy. Rental rates slightly decreased by $0.02. A continued drop in activity is expected throughout 2011 across all submarkets for both flex and warehouse space. Property owners are focusing on retaining tenants by offering lease concessions and rate reductions. New construction and land sales are expected to remain slow until absorption improves.
C&W - MONTREAL OFFICE MARKETBEAT - Q4 2012 Guy Masse
The Montreal office market saw slowing growth in Q4 2012, with overall absorption dropping slightly to -15,000 square feet due to large blocks of vacant space returning to the market. However, vacancy rates remained steady at 7.7% overall and 6.7% direct. Suburban office markets performed better than the downtown core, with over 160,000 square feet of positive absorption offsetting increased vacancies downtown. Looking ahead, nearly 750,000 square feet of new downtown construction is expected to alleviate class A space shortages while stable rental rates and expanding suburban options will boost future leasing activity.
The Metro Detroit office market saw slight improvements in the fourth quarter of 2010. Net absorption was positive 924,996 square feet and vacancy rates decreased to 19%. Rental rates increased slightly to $18.77 per square foot. Construction remains low as the real estate market continues to recover from the economic downturn. Challenges remain for commercial property owners as high vacancies persist through 2011.
North American Office Highlights 3Q-2011Coy Davidson
The U.S. office market posted modest growth in Q3 2011 with slightly higher demand and lower vacancy. However, the much anticipated recovery has not materialized due to uncertainty in the domestic and global economies. With only modest economic growth, rents are unlikely to change significantly in the next year. Canadian markets fared better this quarter but future growth is expected to remain sluggish given uncertainty in Europe. Office vacancies will continue to gradually decline but oversupply will persist in many markets.
The U.S. office market posted modest growth in Q3 2011 with slightly higher demand and lower vacancy. However, the much anticipated recovery has not materialized due to uncertainty in the domestic and global economies. With only modest economic growth, rents are unlikely to change significantly in the next year. Canadian markets fared better this quarter but future growth is expected to remain sluggish given uncertainty in Europe. Office vacancies will continue to gradually decline but oversupply will persist in many markets.
North American Office Highlights 2Q 2010Coy Davidson
The office market in North America showed signs of stabilizing in Q2 2010. Vacancy rates rose slightly in both the US and Canada, but the increases were relatively small. Demand was mixed with the US seeing slightly positive absorption and Canada seeing more substantial growth. With economic growth in Q2 and continued labor market stabilization, office markets are expected to continue gradual improvement through mid-2011. The quarter affirmed the transition from dramatically rising vacancies and falling rents to more modest movements, with a possible reversal in coming quarters.
The US apartment market outlook remains uncertain as the economy continues to weaken. While apartment completions are expected to slow considerably in the near future, most new units under construction are concentrated in a few metros. Rent cuts have made new development deals difficult to finance, which may delay a return of new construction supply. Current apartment demand is absorbing new units but existing properties continue to lose residents. Lowering rent and standards for renters has helped occupancy rates exceed expectations so far in 2009, though revenues remain negative across property age sectors.
North American Office Highlights 2Q 2011Coy Davidson
The U.S. office market saw a modest rebound in Q2 with higher demand and slightly lower vacancy compared to Q1. However, the recovery remains subdued as rents continued to decline slightly. The Canadian office market performed better with stronger economic and job growth. While the U.S. and Canadian economies are projected to improve in the second half of 2011, forecasts made earlier in the year now appear overly optimistic given recent weak job numbers and high energy costs, which could dampen corporate expansion plans.
In 2011, M&A activity in Turkey reached a record number of deals but total disclosed deal value did not reach levels seen in previous years due to a slowdown in privatizations and an increase in small to medium sized deals. Some notable deals included the acquisition of Mey Içki by Diageo for $2.1 billion and the privatization of IDO for $861 million. The food and beverage sector saw the most deal activity. While the number of deals involving foreign investors reached a record high, total deal value by domestic and foreign investors decreased from 2010 levels. Survey respondents expected overall deal volume in 2012 to be moderate and for the energy, services, and real estate sectors to be most active.
Similar to Colliers North American Industrial Highlights 4Q-11 (20)
The document summarizes research on working from home (WFH) trends and implications. It finds that WFH has increased 6-fold during the pandemic and is stabilizing at around 30% of workdays. Most employees prefer a hybrid model that allows some choice over WFH days. Managing hybrid teams well requires coordinating in-person office days to promote collaboration. Offices are not expected to significantly cut space but may redesign to add meeting rooms and lounge seating. Support services may increasingly offshore under long-term hybrid models.
HORIZON TOWER
520,094 RSF
17-story medical + biomedical space
13-level parking garage; 2,700 stalls
Under Construction and
On-Schedule for 4Q2023 Delivery
This document summarizes a webinar hosted by Occupier Services on May 14th discussing strategies for leading occupiers in the "new normal". The webinar featured a panel of real estate executives from Nokia, Nestle, ServiceNow and PepsiCo discussing topics like portfolio management, transaction strategies and workplace strategies in light of COVID-19. Survey results were presented showing most occupiers anticipate a decrease in future office space needs and a preference among employees to work from home at least one day a week going forward. The webinar provided insights into how large occupiers are adapting their real estate strategies in response to the pandemic.
Houston Methodist and Colliers International HoustonCoy Davidson
Colliers International has provided real estate and advisory services to Houston Methodist Hospital since 2001. Houston Methodist is one of the largest health systems in the US, consisting of 7 hospitals and over 120 locations across the Greater Houston area. Colliers International assists Houston Methodist with services such as site selection, acquisitions, property management, and tenant representation. Some of Colliers' accomplishments for Houston Methodist include selecting and acquiring sites for new hospitals in The Woodlands and Katy, Texas, as well as five emergency care centers, and representing Houston Methodist in leasing over 230,000 square feet across 23 locations.
Despite strong demand and low vacancy rates in 2016, the healthcare industry faces uncertainties in 2017. The repeal of the Affordable Care Act and its replacement details are unknown, which may delay real estate decisions. Additionally, new Medicare reimbursement rules will challenge off-campus projects' viability and cause providers to reevaluate expansion plans. Rising costs are putting pressure on providers' operating margins as the aging population increases demand for healthcare. While fundamentals remain solid, the industry will need to make nuanced real estate decisions based on the changing policy and consumer landscape.
Colliers International Houston Trends 2017Coy Davidson
This document contains multiple charts and graphs summarizing real estate market trends in Houston, Texas from 2001 to 2016. It shows that drilling permits and rig counts in Texas peaked in the late 2000s and declined sharply after 2014. Houston gained over 100,000 jobs annually from 2009 to 2013 but saw job losses in the energy sector after 2014. Office vacancy rates in Houston doubled from the early 1980s to late 1980s during a period of rapid office development. The industrial, retail, multifamily, and construction sectors are also analyzed with statistics on vacancies, rents, absorption, construction projects, and sales.
This document summarizes economic indicators and trends in Houston, Texas. It finds that while Houston added over 15,000 jobs in 2015, growth has slowed significantly since the dramatic fall in oil prices in late 2014. The energy sector, particularly upstream exploration and production, has been hardest hit, though other industries like healthcare and trade have provided job gains. Population growth remains strong at over 2.5% annually. Despite challenges from low oil prices, Houston's diverse economy, large port and medical sector position it for continued importance.
2016 Healthcare Real Estate MarketplaceCoy Davidson
Healthcare real estate continues strong performance, with demand for medical office space expected to increase due to rising healthcare spending and an aging population. Vacancy rates have declined to 9.5% nationally as absorption remains positive, while rental rates have increased slightly. Medical office building sales volumes hit a new peak in 2015, contributing to downward pressure on capitalization rates. The outlook for 2016 is continued strong fundamentals and demand in the healthcare real estate sector.
Houston Healthcare Real Estate Market Report - Year End 2015Coy Davidson
The Texas Medical Center in Houston announced plans to expand its life science research campus by 30 acres and $1.5 billion to establish Houston as a new life science hub. Additionally, Baylor College of Medicine and CHI St. Luke's Hospital plan to develop a $1.1 billion medical campus featuring a medical school, cardiovascular research institute, and nationally recognized hospital. The expansions aim to solidify Houston's position as a leader in human health and medical research.
The office market fundamentals continued to improve in Q4 2015, with rents rising and vacancies falling in the core areas of the top 10 markets. Absorption trends were generally positive, though leasing slowed in some markets due to low availability. Tech tenants remain an important driver of leasing activity, though corporate relocations and professional services are also contributing. Rents are below prior peaks in most markets, suggesting further potential for growth in 2016 as the US economy continues moderate expansion.
This document provides a summary of the crude oil market in early 2016. It notes that crude oil prices had fallen dramatically to around $30/barrel from over $100/barrel previously. It analyzes factors contributing to lower oil prices such as increased US shale oil production, the lifting of the US oil export ban, and the market share war being waged by Saudi Arabia. The document also examines projections for global oil supply and demand in 2016-2017 and the expected impacts on production levels from US shale declines, OPEC, and potential increased exports from Iran.
This document provides information on sponsors, partners, and leadership for CRE // Tech events. It lists lead sponsors and national media sponsors. It also lists the board of advisors and regional chairs that provide leadership for CRE // Tech. Finally, it thanks sponsors and supporters for making the events possible.
The document summarizes the Q4 2014 office market report for San Francisco. Key points include:
- The vacancy rate remained flat at 7.5% due to new construction, though it has decreased 51% since 2010.
- Leasing activity was strong with 1.5 million sq ft leased in Q4 and a total of 8.1 million sq ft for the year, exceeding the annual average.
- The market posted its 18th consecutive quarter of positive absorption, with over 257,000 sq ft absorbed in Q4 and over 2.8 million sq ft for the year.
- Average rents increased to $64.79 per sq ft, a 16.2% increase over the previous
Houston Medical Office Report and Healthcare CommentaryCoy Davidson
This document summarizes healthcare real estate trends in the Houston area in 2014. It notes that the population is growing rapidly and demand for healthcare services is increasing. As a result, major hospital systems are expanding by constructing new facilities and medical office buildings in the suburbs to improve access. In the Texas Medical Center, several large hospital projects were underway or completed in 2014 that will add over a million square feet of new space. Freestanding emergency departments are also proliferating as another strategy to expand access and capture market share. Overall, the healthcare sector in Houston showed no signs of slowing down despite a downturn in the energy industry.
Despite uncertainty around the Affordable Care Act, demand for healthcare real estate continues to increase due to growth in the insured population and an aging baby boomer generation. Medical office vacancy rates are at their lowest since the recession and declining further, while modern, flexible spaces in good locations see the highest demand. Both new construction and space under construction have remained low since the recession. Healthcare industry consolidation is accelerating due to the ACA and cost pressures.
The document summarizes updates to BOMA standards for measuring and calculating rentable area in commercial real estate. It outlines revisions to Method A (legacy method) and the introduction of Method B (single load factor method) for more consistent rentable area calculations. It also discusses new enclosure requirements to provide consistent boundaries for measuring interior space. Abel Design Group presented on these updates to assist clients with applying the current BOMA standards.
North American Industrial Outlook Q4 13Coy Davidson
This document discusses trends in the North American industrial real estate market in Q4 2013. It notes that vacancy rates declined slightly to 7.69% due to strong absorption in the US market. While construction of new industrial space increased, absorption exceeded new supply, indicating no overbuilding risk. The document advocates thinking in "3D" by considering factors beyond traditional supply and demand like the impact of e-commerce, changing manufacturing processes, and transportation infrastructure on industrial real estate.
The document provides an overview and summary of Colliers' first national medical office report. It discusses key drivers of the medical office building (MOB) market, including the aging baby boomer population and Affordable Care Act. It also summarizes trends in the healthcare industry such as employment growth in outpatient care and widespread industry growth across US geographies. Healthcare real estate trends are also examined, like stable MOB vacancy rates and declining construction activity in recent years.
Gianluigi Torzi | Managing Director and Head of Capital MarketsGianluigi Torzi
Gianluigi Torzi is a prominent figure in the financial industry, known for his strategic leadership as Managing Director and Head of Capital Markets for the Middle East and Africa. Gianluigi Torzi extensive experience in investment banking equips him with the skills to navigate complex financial landscapes and deliver exceptional results for clients
Anilesh Ahuja Pioneering a Paradigm Shift in Real Estate Success.pptxneilahuja668
Anilesh Ahuja journey is a testament to the power of vision, resilience, and unwavering determination. As a visionary leader, he continues to inspire and empower others to dream big and challenge the status quo. His legacy extends far beyond the realm of real estate, leaving an indelible mark on the industry and the world at large.
36,778 sq. ft. building; Zoning: SE (Suburban Employment): The (SE) District allows numerous commercial site uses; Passenger elevator; Private and common restrooms; Fully sprinkled; Data center with a grounded floor and a specialized HVAC system; 60 KVA back-up generator; Building/pylon signage; Potential to purchase adjacent parcels; Sale Price: $4,413,360
Signature Global TITANIUM SPR | 3.5 & 4.5BHK High rise Apartments in Gurgaonglobalsignature2022
Signature Global TITANIUM SPR launched a high rise apartments in Gurgaon . In this project Signature Global offers 3.5 & 4.5 BHK high rise Apartment at sector 71 Gurgaon SPR Road. Signature Global Titanium SPR is IGBC Gold certified, a testament to our commitment to sustainability.
Listing Turkey - Piyalepasa Istanbul CatalogListing Turkey
We are working around the clock to transform a long-time dream into reality. As a result, Piyalepasa Istanbul will be the largest privately developed urban regeneration project in Turkey.
THE NEIGHBORHOOD WE HAVE BEEN LONGING FOR IS COMING TO LIFE
The good old days of the Piyalepasa neighborhood are being brought back to life with Piyalepasa Istanbul houses, residences, offices, hotels and a pedestrianized shopping avenue.
The wide streets of this 82.000 square meter development conveniently face the main boulevard in a prime Beyoglu location. “Piyalepaşa İstanbul” stands out as the only project designed to offer a neighborhood lifestyle, complete with its grocers, bagel sellers and greengrocer. Piyalepasa Istanbul has all the values to make it an authentic neighborhood, our very own community.
A NEIGHBORHOOD FULL OF LIFE, IN THE HEART OF THE CITY!
“Piyalepaşa İstanbul” is a “mixed-use” concept containing all the elements for a vibrant social life with houses, residences, offices, hotels and high street shopping.
“Piyalepaşa İstanbul” will take the liveliness of Istanbul into its heart. The elegant sparkle of Nisantasi, the young and colorful Besiktas, the variety and multicultural heritage of Istiklal Street will all be contained within the streets of this neighborhood.
“Piyalepaşa İstanbul” bears traces of the most beautiful examples of Turkish architecture from the Seljuks to the Ottomans and from Anatolia to Rumelia. With its graded facades, wide eaves, bay windows, pools, and interior courtyard systems, it offers a new living space without disrupting the city’s silhouette and neighborhood.
“Piyalepaşa İstanbul” is the new attraction of this splendid city.
TO BE AT THE CENTER OF ISTANBUL… THIS IS REAL LUXURY!
With its proximity to D-100 highway, connecting roads and tunnels, “Piyalepaşa İstanbul” is only minutes away from Kabatas, Besiktas, the Golden Horn and Karakoy.
“Piyalepaşa İstanbul” is close to the prestigious new Istanbul Court House, a major hospital, the Perpa trade center and the city’s most lively neighborhoods. With its shuttle service to Okmeydani Metrobus station, Sishane and the Court House subway stations, “Piyalepaşa İstanbul” will provide you with the most convenient transport connections.
https://listingturkey.com/property/piyalepasa-istanbul/
Selling your home can be easy. Our team helps make it happen.Eric B. Slifkin, PA
Why hire one realtor when you can hire a team for the exact cost? Our team ensures better service, communication, and efficiency, which can make all the difference in finding your perfect home or securing the right buyer. See how we market homes for sellers.
Stark Builders: Where Quality Meets Craftsmanship!shuilykhatunnil
At Stark Builders our vision is to redefine the renovation experience by combining both stunning design and high quality construction skills. We believe that by delivering both these key aspects together we are able to achieve incredible results for our clients and ensure every project reflects their vision and enhances their lifestyle.
Although we are not all related by blood we have created a team of highly professional and hardworking individuals who share the common goal of delivering beautiful and functional renovated spaces. Our tight nit team are able to work together in a way where we pour our passion into each and every project as we have a love for what we do. Building is our life.
Why is Revit MEP Outsourcing considered an as good option for construction pr...MarsBIM1
Outsourcing MEP modeling services require effective collaboration and coordination amongst multiple engineering trades. The engineers and the designers often change the details of the MEP projects, but the work of Revit MEP drafting services is having the master plan and model of the complete project. To have proper coordination and installation, there is a need to execute the project effectively. Hence, the work of Revit family creation facilitates the MEP engineers.
Living in an UBER World - June '24 Sales MeetingTom Blefko
June 2024 Lancaster County Sales Meeting for Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. VA Suspends Buyer Agent Payment Plan (article), 2. Frequently Used Terms in title, 3. Zillow Showcase Overview, 4. QuickBuy commission promotion, 5. Documenting Cooperative Compensation, 6. NAR's Code of Ethics - Mass Media Solicitations, 7. Is it really cheaper to rent? 8. Do's and Don't's when Terminating the Agreement of Sale, 9. Living in an UBER World
Andhra Pradesh, known for its strategic location on the southeastern coast of India, has emerged as a key player in India’s industrial landscape. Over the decades, the state has witnessed significant growth across various sectors,
Expressways of India: A Comprehensive Guidenarinav14
India’s expressway network is a testament to the nation’s dedication to improving infrastructure and connectivity. These high-speed corridors facilitate seamless travel across vast distances, reducing travel time and fuel consumption
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Sunrise Infra Properties Company Profile Pradeep.pdf
Colliers North American Industrial Highlights 4Q-11
1. Q4 2011 | INDUSTRIAL
NORTH AMERICA
HIGHLIGHTS
U.S. Industrial Vacancy Will Drop
Gradually Through 2012
JAMES COOK Director of Research | USA
MARKET INDICATORS
Relative to prior period U.S. Industrial Trend Forecast
• U.S. industrial demand will continue the gradual recovery that began in Q4 2010. Absorption in Q4
Q4 Q1
2011 2012* 2011 was the highest recorded since the recovery started: 41.3 million square feet.
• Speculative
construction will gain momentum in primary and select secondary markets.
VACANCY Newly delivered inventory in 2011 was 38.5 million square feet, 14.1 million more than in the
previous year.
NET ABSORPTION
• Weforecast a U.S. vacancy rate to drop to below 8.9% in Q4 2012.
CONSTRUCTION • Averagerental rates will remain flat; however core modern industrial in high-demand markets will
be able to garner above-average rental rates.
RENTAL RATE
• Warehouse space will receive increased investor focus in 2012. Expect growing warehouse rents
*Projected and declining landlord concessions for modern warehouse space in major markets.
Expect U.S. Vacancy Rate to Drop Below 8.9% in 2012
The U.S. economy has recovered in fits and starts, but despite uneven quarterly GDP growth, occupi-
U.S. INDUSTRIAL MARKET ers of industrial property have expressed a growing demand. Beginning in the second quarter of
SUMMARY STATISTICS, Q4 2011 2010, this demand reached a new cyclical high of 41.3 million square feet of absorption in Q4 2011.
We expect U.S. GDP growth will stay around 2% in 2012 and reach 3% in the following year. Current
Vacancy Rate: 9.74% absorption rates should hold steady through 2012. Assuming low levels of new construction, we are
Change from Q3 2011: –0.26 forecasting the U.S. vacancy rate to drop from 9.7% in Q4 2011 to below 8.9% in Q4 2012.
Continued on page 8
Absorption: U.S. INDUSTRIAL MARKET Q4 2009 – Q4 2011
41.3 Million Square Feet
50 14
New Construction: 40
10.90 11.10
11.00 11.00 10.80
12 U.S. industrial
7.2 Million Square Feet 30
10.56 10.29 10.00 9.74
10 absorption in Q4 2011
was the highest
20 8
Under Construction: recorded since the
Million Square Feet
34.0 Million Square Feet 10 6 recovery started.
Vacancy (%)
0 4 Colliers forecasts the
Asking Rents Per Square Foot U.S. vacancy rate to
-10 2
Average Warehouse/ drop to below 8.9% in
Distribution Center: $4.70 -20 0 Q4 2012.
Change from Q4 2010: 0.05%
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2009 2010 2011
Absorption Completions Vacancy
WWW.COLLIERS.COM
2. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY
EXISTING
INVENTORY (SF) NEW CONSTRUCTION NEW CONSTRUCTION CURRENTLY UNDER
MARKET DEC. 31, 2011 Q4 2011 (SF) YTD 2011 (SF) CONSTRUCTION (SF)
NORTHEAST
Baltimore, MD 298,183,000 0 195,160 0
Boston, MA 154,841,000 0 347,350 0
Hartford, CT 96,975,000 0 0 122,480
Long Island, NY 164,939,000 0 107,000 0
New Jersey – Central 356,759,000 0 467,682 61,700
New Jersey – Northern 376,686,000 261,000 332,816 524,350
Philadelphia, PA 404,293,000 945,000 2,314,085 1,709,473
Pittsburgh, PA 165,530,000 190,000 405,000 190,000
Washington, DC 273,752,000 577,000 1,612,977 784,201
NORTHEAST TOTAL/AVERAGE 2,291,958,000 1,973,000 5,782,070 3,392,204
SOUTH
Atlanta, GA 600,294,000 115,000 2,216,998 204,250
Charleston, SC 32,523,000 0 265,000 380,000
Charlotte, NC 290,392,000 0 930,719 498,460
Columbia, SC 35,640,000 0 0 1,000,000
Dallas-Ft. Worth, TX 705,430,000 0 1,887,536 649,590
Ft. Lauderdale-Broward, FL 124,740,000 0 73,952 65,000
Greenville/Spartanburg, SC 174,148,000 0 128,000 950,000
Houston, TX 508,775,000 177,000 1,670,619 2,942,666
Jacksonville, FL 121,817,000 235,000 779,659 0
Little Rock, AR 45,054,000 0 0 497,443
Louisville, KY 175,046,000 0 313,419 25,868
Memphis, TN 209,762,000 44,000 1,274,734 284,660
Miami, FL 220,819,000 0 0 0
Nashville, TN 158,955,000 0 1,500,000 1,624,000
Orlando, FL 147,549,000 0 0 0
Raleigh, NC 111,632,000 66,000 2,106,714 65,793
Savannah, GA 44,126,000 0 1,135,000 295,000
Tampa Bay, FL 215,408,000 0 0 0
West Palm Beach, FL 60,939,000 218,000 257,000 0
SOUTH TOTAL/AVERAGE 3,983,049,000 855,000 14,539,350 9,482,730
MIDWEST
Chicago, IL 1,308,706,000 2,515,000 4,755,287 3,175,730
Cincinnati, OH 258,113,000 0 0 1,166,338
Cleveland, OH 472,765,000 0 497,131 9,038
P. 2 | COLLIERS INTERNATIONAL
3. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY
EXISTING
INVENTORY (SF) NEW CONSTRUCTION NEW CONSTRUCTION CURRENTLY UNDER
MARKET DEC. 31, 2011 Q4 2011 (SF) YTD 2011 (SF) CONSTRUCTION (SF)
Columbus, OH 213,908,000 105,000 1,905,000 6,253,000
Detroit, MI 493,732,000 0 53,000 0
Grand Rapids, MI 112,216,000 0 145,300 20,000
Indianapolis, IN 278,995,000 99,000 741,517 113,488
Kansas City, MO-KS 235,217,000 67,000 480,813 350,000
Minneapolis/St. Paul, MN 261,814,000 0 0 0
Omaha, NE 67,818,000 0 0 0
St. Louis, MO 261,887,000 0 46,000 139,000
MIDWEST TOTAL/AVERAGE 3,965,171,000 2,786,000 8,624,048 11,226,594
WEST
Bakersfield, CA 322,244,000 67,000 568,459 605,018
Boise, ID 32,774,000 0 0 0
Denver, CO 210,044,000 11,000 228,875 10,875
Fairfield, CA 42,131,000 0 0 149,424
Fresno, CA 48,600,000 0 0 0
Honolulu, HI 38,896,000 0 0 0
Las Vegas, NV 108,327,000 131,000 228,154 0
Los Angeles, CA – Inland Empire 382,014,000 0 5,926,000 3,575,600
Los Angeles, CA 880,902,000 106,000 1,600,400 598,800
Oakland, CA 131,233,000 0 0 25,650
Orange County, CA 200,453,000 0 0 645,000
Phoenix, AZ 269,389,000 603,000 1,006,767 2,815,245
Pleasanton/Walnut Creek, CA 33,035,000 0 0 0
Portland, OR 196,362,000 437,000 508,423 736,823
Reno, NV 73,995,000 46,000 139,000
Sacramento, CA 186,709,000 10,000 36,010 200,000
San Diego, CA 188,338,000 0 202,340 253,245
San Francisco Peninsula, CA 40,807,000 0 0 0
San Jose/Silicon Valley, CA 253,675,000 0 609,000 0
Seattle/Puget Sound, WA 270,252,000 45,000 200,568 129,135
Stockton/San Joaquin County, CA 92,734,000 22,000 90,982 0
WEST TOTAL/AVERAGE 4,002,914,000 1,432,000 11,251,978 9,883,815
U.S. TOTAL/AVERAGE 14,243,092,000 7,046,000 40,197,446 33,985,343
COLLIERS INTERNATIONAL | P. 3
4. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY
ABSORPTION ABSORPTION VACANCY RATE VACANCY RATE
MARKET Q4 2011 (SF) YTD 2011 (SF) SEP. 30, 2011 (%) DEC. 31, 2011 (%)
NORTHEAST
Baltimore, MD 710,000 646,000 10.83 10.59
Boston, MA 916,000 1,791,000 20.74 20.00
Hartford, CT (440,000) (182,000) 9.05 9.50
Long Island, NY 969,000 821,000 5.86 5.27
New Jersey – Central 540,000 3,445,000 10.11 9.96
New Jersey – Northern (316,000) (3,933,000) 8.55 8.63
Philadelphia, PA 589,000 3,048,000 9.70 9.76
Pittsburgh, PA (100,000) 1,295,000 7.29 7.34
Washington, DC (143,000) 1,967,000 11.65 11.95
NORTHEAST TOTAL/AVERAGE 2,725,000 8,898,000 10.22 10.16
SOUTH
Atlanta, GA 2,424,000 9,021,000 13.99 13.61
Charleston, SC 330,000 905,000 9.85 10.64
Charlotte, NC 812,000 4,842,000 12.74 12.63
Columbia, SC 136,000 27,000 8.09 7.71
Dallas-Ft. Worth, TX 2,902,000 11,976,000 10.93 10.61
Ft. Lauderdale-Broward, FL 282,000 (30,000) 9.73 9.50
Greenville/Spartanburg, SC 904,000 424,000 9.50 9.73
Houston, TX 1,542,000 4,379,000 5.17 5.04
Jacksonville, FL 382,000 1,537,000 11.03 10.70
Little Rock, AR 305,000 216,000 14.17 13.50
Louisville, KY 571,000 2,453,000 10.61 10.28
Memphis, TN 147,000 1,657,000 13.24 13.19
Miami, FL 792,000 2,498,000 8.22 7.86
Nashville, TN 462,000 1,477,000 12.98 12.68
Orlando, FL 706,000 1,616,000 11.64 11.16
Raleigh, NC 685,000 1,864,000 11.66 11.11
Savannah, GA (59,000) 2,240,000 14.18 14.31
Tampa Bay, FL 119,000 1,827,000 10.30 10.27
West Palm Beach, FL 477,000 619,000 9.24 8.78
SOUTH TOTAL/AVERAGE 13,919,000 49,548,000 10.75 10.51
MIDWEST
Chicago, IL 9,245,000 10,717,000 11.28 10.63
Cincinnati, OH 1,165,000 121,000 8.98 9.26
P. 4 | COLLIERS INTERNATIONAL
5. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY
ABSORPTION ABSORPTION VACANCY RATE VACANCY RATE
MARKET Q4 2011 (SF) YTD 2011 (SF) SEP. 30, 2011 (%) DEC. 31, 2011 (%)
Cleveland, OH 244,000 912,000 9.71 9.67
Columbus, OH 204,000 3,057,000 11.86 11.76
Detroit, MI 2,861,000 9,163,000 13.49 13.19
Grand Rapids, MI (127,000) 423,000 8.66 8.85
Indianapolis, IN 1,498,000 6,041,000 6.66 6.48
Kansas City, MO-KS 20,000 798,000 7.15 7.16
Minneapolis/St. Paul, MN 803,000 1,263,000 7.95 7.64
Omaha, NE (225,000) 168,000 5.80 6.13
St. Louis, MO 389,000 (843,000) 9.15 9.00
MIDWEST TOTAL/AVERAGE 16,077,000 31,820,000 10.15 9.88
WEST
Bakersfield, CA 544,000 1,068,000 9.43 7.95
Boise, ID (7,000) (83,000) 10.90 10.88
Denver, CO (129,000) 36,000 7.60 7.61
Fairfield, CA (60,000) 571,000 12.49 12.64
Fresno, CA 80,000 212,000 12.00 11.83
Honolulu, HI (31,000) (32,000) 4.70 4.78
Las Vegas, NV (170,000) 418,000 15.87 16.13
Los Angeles, CA – Inland Empire 1,630,000 15,005,000 7.20 6.57
Los Angeles, CA 1,182,000 8,043,000 5.00 4.85
Oakland, CA 212,000 579,000 9.26 8.03
Orange County, CA 62,000 1,750,000 4.72 4.75
Phoenix, AZ 2,996,000 6,731,000 14.75 13.83
Pleasanton/Walnut Creek, CA (218,000) (938,000) 13.13 13.79
Portland, OR 1,080,000 3,013,000 8.29 7.94
Reno, NV 213,000 815,000 14.92 14.64
Sacramento, CA (239,000) 773,000 12.97 13.10
San Diego, CA 180,000 236,000 11.62 11.53
San Francisco Peninsula, CA 156,000 369,000 9.14 8.76
San Jose/Silicon Valley, CA 979,000 1,483,000 12.16 11.57
Seattle/Puget Sound, WA (144,000) 3,602,000 7.25 7.31
Stockton/San Joaquin County, CA 297,000 2,496,000 15.37 15.07
WEST TOTAL/AVERAGE 8,613,000 46,147,000 8.97 8.61
U.S. TOTAL/AVERAGE 41,334,000 136,413,000 10.00 9.74
COLLIERS INTERNATIONAL | P. 5
6. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY | SALES PRICE AND CAP RATE AS OF DECEMBER 2011
SALES PRICE CAP RATE VACANCY FORECAST ABSORPTION FORECAST RENT FORECAST
MARKET (USD PSF) (%) (3 MONTHS) (3 MONTHS) (3 MONTHS)
NORTHEAST
Baltimore, MD 76.78 7.80 Down Up Same
Boston, MA 51.00 - Down Same Same
Hartford, CT 38.00 8.50 Same Same Down
Long Island, NY 140.00 8.63 Same Same Same
New Jersey – Central 42.53 8.40 Same Same Up
New Jersey – Northern 62.78 7.20 Same Same Same
Philadelphia, PA 50.93 8.20 Down Up Same
Pittsburgh, PA 50.00 8.00 Down Up Up
Washington, DC 116.00 6.90 Down Up Same
NORTHEAST TOTAL/AVERAGE 69.78 7.95 – – –
SOUTH
Atlanta, GA 40.37 8.40 Down Down Same
Charleston, SC 46.00 7.75 Down Up Up
Dallas-Ft. Worth, TX 55.00 7.60 Down Same Same
Ft. Lauderdale-Broward, FL 77.15 - Same Same Same
Greenville/Spartanburg, SC 28.50 9.00 Down Up Up
Houston, TX 59.50 7.60 Down Up Up
Jacksonville, Fl 31.50 8.20 Down Same Same
Little Rock, AR 65.45 9.00 Same Same Same
Memphis, TN 30.00 8.63 Same Same Same
Miami, FL 74.74 7.15 Down Up Up
Orlando, FL 53.00 8.00 Down Up Same
Raleigh, NC 40.03 8.38 Same Same Same
Savannah, GA 37.00 8.50 Same Same Same
Tampa Bay, FL 34.24 9.00 Down Up Same
West Palm Beach, FL 69.00 - Down Up Same
SOUTH TOTAL/AVERAGE 49.43 8.25 – – –
MIDWEST
Chicago, IL 49.00 6.50 Same Down Same
Cincinnati, OH 37.50 8.25 Same Same Same
Columbus, OH 25.00 9.00 Same Same Same
Detroit, MI 24.30 - Up Same Down
P. 6 | COLLIERS INTERNATIONAL
7. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY | SALES PRICE AND CAP RATE AS OF DECEMBER 2011
SALES PRICE CAP RATE VACANCY FORECAST ABSORPTION FORECAST RENT FORECAST
MARKET (USD PSF) (%) (3 MONTHS) (3 MONTHS) (3 MONTHS)
Grand Rapids, MI 42.50 8.25 Down Up Up
Indianapolis, IN 35.00 8.50 Down Up Up
Minneapolis/St. Paul, MN 43.65 7.29 Down Up Same
MIDWEST TOTAL/AVERAGE 36.71 7.97 – – –
WEST
Bakersfield, CA 38.00 10.00 Same Same Same
Boise, ID 55.00 - Down Same Same
Denver, CO 53.00 8.00 Down Up Same
Fresno, California 38.00 9.00 Down Up Same
Las Vegas, NV 74.44 8.00 Down Up Same
Los Angeles, CA – Inland Empire 61.00 6.50 Down Up Up
Los Angeles, CA 85.00 5.50 Same Same Up
Oakland, CA 98.11 6.50 Down Up Same
Orange County, CA 111.00 6.20 Same Same Up
Phoenix, AZ 53.00 8.20 Down Down Same
Pleasanton/Walnut Creek, CA 87.50 8.75 Same Same Same
Portland, OR 53.81 8.55 Down Down Same
Reno, NV 47.19 - Down Same Same
Sacramento, CA 42.38 - Down Up Same
San Diego, CA 108.01 6.54 Down Same Up
San Francisco Peninsula, CA 250.00 6.50 Same Same Same
Seattle/Puget Sound, WA 87.43 6.73 Down Up Up
Stockton/San Joaquin County, CA 60.00 7.00 Down Up Same
WEST TOTAL/AVERAGE 77.94 7.46 – – –
U.S. TOTAL/AVERAGE 61.82 7.87 – – –
COLLIERS INTERNATIONAL | P. 7
8. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
U.S. Market Starts the Year with a Flourish INSTITUTE FOR SUPPLY MANAGEMENT MANUFACTURING INDEX
Continued from page 1
80
We expect a dip in economic activity in Europe that will be countered by
the strengthening U.S. domestic economy. Some impact on industrial 70
property may be felt in Northeast markets, where there is greater import/
export exposure to the Eurozone. Many businesses which have held off on 60
capital expenditures during the downturn will finally make those purchases
50
in 2012, which should bolster demand for warehouse and manufacturing
Index
space. 40
Absorption Will Outpace New Construction 30
Growth in the manufacturing and distribution industry has kept the U.S.
20
vacancy rate dropping in a mostly regular fashion since its peak of 11.10%
in Q1 2010. Vacancy dropped by 26 basis points from 9.98% in Q3 2011 10
to 9.72% in Q4 2011. Construction is still proceeding at low levels, with
38.5 million square feet of industrial space completed in 2011. With 34 0
J F MA MJ J A S O N D J F MA MJ J A S O N D J F MA MJ J A S O N
million square feet under construction, we expect construction rates to
2009 2010 2011
accelerate moderately.
Los Angeles Sees Consistent, Growing Demand
A handful of big markets made up the bulk of 2011’s positive absorption.
ABSORPTION (SF) | SELECT MARKETS | Q4 2011
Greater Los Angeles alone accounted for 17.4% of the year’s positive ab-
sorption, while representing only 9.1 % of the national industrial inventory.
This consistent demand has meant the return of speculative construction Millions
to the region. In the East Inland Empire, rental demand has spurred on the -2.50 0.00 2.50 5.00 7.50 10.00
construction of four speculative properties totaling 2.8 million square feet. Chicago, IL
Dallas-Ft. Worth, TX
Bulk Distribution Leasing Focuses on Midwest Detroit, MI
The Midwest is the locus of Bulk/Distribution demand. 42.7 percent of Q4 Atlanta, GA
Bulk/Distribution absorption occurred in Midwestern markets, which Los Angeles - Inland Empire, CA
make up only 22 percent of total tracked inventory. The Chicago market Indianapolis, IN
represents 9.5% of the total industrial inventory we track, but accounted Los Angeles, CA
for 23.3% of total industrial absorption in 2011. Chicago will see the re- New Jersey - Central
turn of construction of speculative warehouse space in 2012 and rents for Savannah, GA
modern space in core submarkets will continue to rise. New Jersey - Northern
Northeast Industrial Heading in a Positive Direction
Of the 47 markets that we track, only six experienced negative net absorp-
tion in 2011. The bulk of that negative absorption came out of Northern
New Jersey, which saw 3.9 million square feet of negative absorption in TRADE: EXPORTS - GOODS, (MIL. $, SA) | Q4 2011
2011. Much of this negative activity occurred in properties away from the
New Jersey Turnpike, the key regional artery. But we expect Northern
New Jersey to head in a positive direction in 2012. Growth in global
150000
emerging markets will increase the flow of trade through area ports,
Millions, Dollars, Seasonally Adjusted
boosting the need for complementary industrial product. In addition, expo-
sure to the European recession shouldn’t be a major concern. China—by 120000
far the biggest contributor to area port trade volume—will see strong eco-
nomic growth in 2012. 90000
Industrial Properties Will See Increased Investor Interest 60000
We expect warehouse space to catch the attention of new investor capital
in the coming year. While buyers have focused on apartment and core 30000
office properties, industrial space has quietly recovered below the radar.
Low construction levels will help to intensify growing occupier demand. 0
J F M A M J J A S O N D J F M A M J J AS O N
Furthermore, industrial properties, with average Q4 2011 national capital-
2010 2011
ization rates of 7.87 percent, have yet to see the kind of rate compression
found in other property types.
P. 8 | COLLIERS INTERNATIONAL
9. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY | RENTS AS OF DECEMBER 2011
WAREHOUSE/DISTRIBUTION BULK SPACE FLEX/SERVICE SPACE TECH/R&D SPACE
MARKET SPACE (USD PSF) (USD PSF) (USD PSF) (USD PSF)
NORTHEAST
Baltimore, MD 5.45 4.63 9.66 -
Boston, MA 6.00 5.10 7.60 10.55
Hartford, CT 4.03 3.50 6.50 6.50
Long Island, NY 8.23 13.66 13.59 9.17
New Jersey – Central 4.41 3.72 11.68 11.85
New Jersey – Northern 6.11 5.97 10.33 10.29
Philadelphia, PA 4.00 3.85 7.00 11.00
Pittsburgh, PA 4.25 3.75 11.39 11.39
Washington, DC 6.61 5.69 10.92 14.82
NORTHEAST TOTAL/AVERAGE 5.45 5.54 9.85 10.70
SOUTH
Atlanta, GA 3.23 2.89 7.29 11.50
Charleston, SC 3.75 4.30 6.25 16.25
Charlotte, NC 3.26 - 8.52 -
Columbia, SC 3.75 3.75 9.50 9.50
Dallas-Ft. Worth, TX 3.05 2.65 6.70 8.20
Ft. Lauderdale-Broward, FL 6.52 5.48 8.93 6.00
Greenville/Spartanburg, SC 2.90 2.95 6.75 -
Houston, TX 5.17 4.19 6.36 7.13
Jacksonville, Fl 3.75 3.10 8.93 -
Little Rock, AR 2.68 2.74 7.35 -
Louisville, KY 3.39 - 7.51 -
Memphis, TN 2.41 2.43 5.10 9.00
Miami, FL 7.21 5.39 10.83 10.93
Nashville, TN 3.91 3.12 7.49 -
Orlando, FL 4.47 4.34 8.76 9.40
Raleigh, NC 3.75 4.95 9.21 9.20
Savannah, GA 3.95 3.75 7.00 10.00
Tampa Bay, FL 4.20 4.19 8.32 9.45
West Palm Beach, FL 6.72 6.10 11.18 15.00
SOUTH TOTAL/AVERAGE 4.11 3.90 8.00 10.12
COLLIERS INTERNATIONAL | P. 9
10. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
UNITED STATES | INDUSTRIAL SURVEY | RENTS AS OF DECEMBER 2011
WAREHOUSE/DISTRIBUTION BULK SPACE FLEX/SERVICE SPACE TECH/R&D SPACE
MARKET SPACE (USD PSF) (USD PSF) (USD PSF) (USD PSF)
MIDWEST
Chicago, IL 4.33 2.85 8.51 -
Cincinnati, OH 2.88 2.88 6.17 6.17
Cleveland, OH 3.28 - 7.97 -
Columbus, OH 4.66 2.58 4.66 4.66
Detroit, MI 4.18 3.59 7.90 -
Grand Rapids, MI 3.07 2.77 3.16 4.52
Indianapolis, IN 3.25 3.15 6.95 -
Kansas City, MO-KS 2.98 3.04 7.06 8.13
Minneapolis/St. Paul, MN 4.67 4.21 4.57 -
Omaha, NE 4.25 3.50 5.92 3.94
St. Louis, MO 3.86 - 8.92 -
MIDWEST TOTAL/AVERAGE 3.76 3.17 6.53 5.48
WEST
Bakersfield, CA 4.00 3.42 8.00 -
Boise, ID 4.75 4.25 5.30 5.30
Denver, CO 4.45 3.25 8.40 9.50
Fairfield, CA 5.39 5.40 8.48 9.10
Fresno, CA 2.40 2.28 4.00 5.50
Honolulu, HI 11.04 - - -
Las Vegas, NV 4.71 4.76 5.99 9.87
Los Angeles, CA – Inland Empire 3.96 3.84 6.75 7.75
Los Angeles, CA 5.76 5.52 9.75 12.50
Oakland, CA 4.68 4.51 5.40 7.92
Orange County, CA 6.72 5.65 12.45 13.25
Phoenix, AZ 5.07 4.06 10.57 10.88
Pleasanton/Walnut Creek, CA 4.85 4.16 12.59 12.59
Portland, OR 5.17 4.65 9.67 9.64
Reno, NV 3.72 3.64 5.04 8.52
Sacramento, CA 4.08 3.77 8.13 8.33
San Diego, CA 7.92 7.32 12.00 14.04
San Francisco Peninsula, CA 9.24 9.24 23.36 23.36
San Jose/Silicon Valley, CA 5.54 5.08 8.58 13.76
Seattle/Puget Sound, WA 5.79 5.19 12.94 -
Stockton/San Joaquin County, CA 3.90 3.66 5.40 7.44
WEST TOTAL/AVERAGE 5.39 4.68 9.14 10.51
U.S. TOTAL/AVERAGE 4.70 4.33 8.39 9.86
U.S. QUARTERLY CHANGE IN RENT 3.6% -1.3% -2.7% 2.1%
P. 10 | COLLIERS INTERNATIONAL
11. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
CANADA | INDUSTRIAL SURVEY
EXISTING
INVENTORY (SF) NEW CONSTRUCTION NEW CONSTRUCTION CURRENTLY UNDER
MARKET DEC. 31, 2011 Q4 2011 (SF) YTD 2011 (SF) CONSTRUCTION (SF)
Calgary, AB 120,827,000 757,000 1,701,824 1,426,768
Edmonton, AB 77,711,000 556,000 638,920 1,195,410
Guelph, ON 19,962,000 0 199,525 168,754
Halifax, NS 7,155,000 0 81,057 91,500
Montreal, QC 347,771,000 0 0 500,000
Ottawa, ON 28,027,000 0 0 25,000
Saskatoon, SK 20,177,000 72,000 754,000 328,000
Toronto, ON 762,070,000 551,000 1,737,978 1,290,536
Vancouver, BC 177,245,000 327,000 1,337,501 1,256,281
Victoria, BC 8,619,000 0 42,500 28,000
Waterloo Region, ON 60,697,000 130,000 248,826 209,025
CANADA TOTAL/AVERAGE 1,630,261,000 2,393,000 6,742,131 6,519,274
CANADA | INDUSTRIAL SURVEY
ABSORPTION ABSORPTION VACANCY RATE VACANCY RATE
MARKET Q4 2011 (SF) YTD 2011 (SF) SEP. 30, 2011 (%) DEC. 31, 2011 (%)
Calgary, AB (39,000) 2,546,000 4.46 4.80
Edmonton, AB 172,000 946,000 3.46 3.50
Guelph, ON (6,000) 558,000 3.67 3.70
Halifax, NS 17,000 (80,000) 6.13 5.89
Montreal, QC 1,484,000 2,680,376 5.81 5.39
Ottawa, ON 78,000 90,000 6.40 6.12
Saskatoon, SK (297,000) 12,000 3.27 4.94
Toronto, ON 3,817,000 13,704,000 4.89 4.46
Vancouver, BC 931,000 2,301,000 3.98 3.63
Victoria, BC 0 62,000 3.37 3.37
Waterloo Region, ON (553,000) (599,000) 6.33 7.23
CANADA TOTAL/AVERAGE 5,604,000 22,220,376 4.93 4.68
COLLIERS INTERNATIONAL | P. 11
12. HIGHLIGHTS | Q4 2011 | INDUSTRIAL | NORTH AMERICA
CANADA | INDUSTRIAL SURVEY | SALES PRICE AND CAP RATE AS OF DECEMBER 2011
SALES PRICE CAP RATE VACANCY FORECAST ABSORPTION FORECAST RENT FORECAST
MARKET (CAD PSF) (%) (3 MONTHS) (3 MONTHS) (3 MONTHS)
Calgary, AB 115.00 6.75 Down Up Up
Edmonton, AB N/A N/A Down Up Same
Guelph, ON 42.00 8.22 Up Down Same
Halifax, NS 90.00 7.75 Down Up Up
Montreal, QC 60.00 8.25 Same Same Same
Ottawa, ON 104.00 8.00 Down Up Up
Saskatoon, SK 130.00 7.50 Down Up Same
Toronto, ON 85.00 6.25 Same Down Same
Vancouver, BC 175.00 7.00 Down Up Same
Victoria, BC 175.00 6.50 Down Up Same
Waterloo Region, ON 60.00 8.20 Down Up Same
CANADA TOTAL/AVERAGE 103.60 7.44 – – –
CANADA | INDUSTRIAL SURVEY | RENTS AS OF DECEMBER 2011
WAREHOUSE/DISTRIBUTION BULK SPACE FLEX/SERVICE SPACE TECH/R&D SPACE
MARKET SPACE (CAD PSF) (CAD PSF) (CAD PSF) (CAD PSF)
Calgary, AB 8.00 6.50 10.50 10.50
Edmonton, AB 7.75 6.00 - -
Guelph, ON 4.34 4.34 8.04 8.04
Halifax, NS 7.75 6.25 10.00 15.00
Montreal, QC 4.75 4.50 6.50 8.50
Ottawa, ON 7.75 7.00 8.50 12.00
Saskatoon, SK 9.50 8.00 11.00 13.00
Toronto, ON 5.15 4.50 7.00 7.62
Vancouver, BC 8.12 6.50 9.50 14.00
Victoria, BC 12.00 11.00 13.50 13.50
Waterloo Region, ON 3.75 2.68 8.10 8.10
CANADA TOTAL/AVERAGE 7.17 6.12 9.26 11.03
CANADA QUARTERLY CHANGE IN RENT -1.1% -2.9% -0.6% 2.6%
Glossary Inventory – Includes all existing multi- or single-
tenant leased and owner-occupied industrial
(remainder in wet lab, workshop, storage and other
support), with dock-height and floor-height loading.
warehouse, light manufacturing, flex and R&D Triple Net Rent – Includes rent payable to the
properties greater than or equal to 10,000
Absorption – Net change in leased space over a landlord, and does not include additional expenses
square feet.
given period of time. such as taxes, insurance, maintenance, janitorial and
New Construction – Includes completed speculative utilities. All industrial and high-tech/R&D rents in
Bulk Space – 100,000 square feet or more, with up
and build-to-suit construction. New construction this report are quoted on an annual, triple net per
to 10 percent office space, the balance being general
quoted on a net basis after any demolitions or square foot basis in U.S. and Canadian dollars.
warehouse space with 20- to 36 foot ceiling heights.
conversions.
All loading is dock-height. Vacancy Rate – Percentage of total inventory
Service Space – Single story (or mezzanine) with available (both vacant and occupied) as at the survey
Flex Space – Single-story buildings having 10- to
10- to 16-foot ceilings with frontage treatment on date including direct vacant and sublease space.
18-foot ceilings with both floor-height and dock-
one side and dock-height loading or grade-level
height loading. Includes wide variation in office Warehouse – 50,000 square feet or more with up to
roll-up doors on the other. Less than 15% office.
space utilization, ranging from retail and personal 15 percent office space, the balance being general
service, to distribution, light industrial and occasional Tech/R&D – One- and two-story, 10- to 15-foot warehouse space with 18- to 30-foot ceiling heights.
heavy industrial use. ceiling heights with up to 50% office/dry lab space All loading is dock-height.
P. 12 | COLLIERS INTERNATIONAL